HomeMy WebLinkAboutDowntown Pasco Development Authority - DPDA Funding Agreement 2015-2016DOWNTOWN PASCO DEVELOPMENT AUTHORITY
FUNDING AGREEMENT
THIS AGREEMENT is made and entered into this 9th day of December 2014, by and
between the City of Pasco, Washington, a Municipal Corporation, hereinafter referred to as
"City," and the Downtown Pasco Development Authority, a non-profit Washington Corporation,
hereinafter referred to as "DPDA."
WHEREAS, the City Council desires to foster revitalization of the downtown business
area and created the Downtown Pasco Development Authority (DPDA) in December 2010 under
Ordinance No. 3985, with the expectation of providing a three-year funding commitment to
permit the new agency to establish operations and demonstrate its ability to fulfill the
revitalization goals enunciated in Ordinance No. 3985 and the DPDA Charter; and
WHEREAS, DPDA has received a certificate of incorporation from the State of
Washington as a non-profit corporation; and
WHEREAS, DPDA has organized and developed operating procedures, hired an initial
and a replacement executive director, reinitiated public events in Downtown Pasco (Cinco de
Mayo and the Fiery Foods Festival), undertaken management of the Pasco Farmers Market and
Pasco Commercial Kitchen, conducted several business education classes and Downtown clean-
up events, organized and implemented a Peanuts Park refurbishment and (with City financial
assistance) completed a 5 year Strategic Work Plan including website revisions and "branding";
and
WHEREAS, DPDA tasks for 2015 and 2016 include obtaining Main Street
Certification, implementation of the "Passport to Pasco Rewards Program," establishment of a
scholarship grant program consistent with the DPDA's 501(c)(3) status, business outreach efforts
including a marketing/fundraising program and analysis of the feasibility of a "year round"
Farmers Market and other tasks identified in the 5 Year Strategic Work Plan; and
WHEREAS, DPDA has requested that additional City funding be made available to
develop resources to eventually reduce the amount of the City subsidy; NOW THEREFORE,
IN CONSIDERATION of the mutual covenants contained herein and other valuable
consideration, it is agreed as follows:
Section 1: DPDA Responsibilities
The DPDA shall conduct its activities and efforts that further the purpose of the DPDA as
identified in Pasco Ordinance 3985 and Article IV of its Charter to include but not be limited to:
• Review of City plans and policies. The DPDA shall review existing and evolving City
land use and capital improvement plans and policies affecting the Downtown Area and
advise the city of appropriate considerations.
• Fnade Improvement Program. The DPDA shall provide information, applications and
professional assistance to Downtown Area property owners wishing to participate in an
approved and funded Community Development Block Grant fagade program.
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Promotional Events. The DPDA should conduct or implement promotional or special
events that contribute to the success of the Downtown Area or otherwise advance the
goals of the DPDA.
Financing Strategy. In collaboration with City staff and/or other professionals, the DPDA
will develop a comprehensive inventory of public and private capital and development
financing tools and incentives that may be available to foster and support its revitalization
efforts. These should include tax credits or other incentives and identification of
infrastructure and other public capital investments that may be necessary to support
private redevelopment projects.
Marketing. The DPDA shall develop a strategy to identify and promote economic vitality
of the Downtown Area including the opportunities associated with the Farmer's Market
and Specialty Kitchen.
Farmer's Market and Pasco Specialty Kitchen. The DPDA shall optimize the
opportunities associated with the Farmer's Market and Specialty Kitchen to increase
economic activity and promote recognition of the Downtown. Operation of these
facilities must be in accordance with the associated lease agreement.
Reports: A formal presentation to the City Council by the DPDA board shall be given on
or before March 1 each year. The DPDA shall deliver quarterly written status reports to the
Pasco City Manager detailing the activities, accomplishments and financial status of the DPDA.
Section 2: City Responsibilities
The City of Pasco will remit to DPDA or its designated bank up to $10,000 by the 10th
day of each month.
Section 3: Term
This agreement shall be effective January 1, 2015 and shall expire on December 31,
2016; provided, however, either parry may terminate the agreement with at least 180 days written
notice delivered to the President of the DPDA or the Pasco City Manager. It is further provided
that this agreement is predicated on the DPDA receiving Main Street status for calendar years
2015 and 2016 and the City's contribution, as described in Section 2, is deemed eligible for Main
Street tax credits by the State Department of Revenue.
Section 4: General Provisions
For the purpose of this Agreement, time is of the essence. Failure of the DPDA to either
provide the accounting or remit disallowed funds as required herein shall constitute a breach of
this agreement. The remedies available to the City shall include but not be limited to, return of
all funds delivered to the DPDA and denial of the right of the DPDA to apply for any future
funding. In the event of a dispute regarding the enforcement, breach, default or interpretation of
this Agreement, the parties shall first meet in a good faith effort to resolve such dispute. In the
event the dispute cannot be resolved by agreement of the parties, said dispute shall be resolved
by arbitration pursuant to RCW 7.04A, as amended, and the Mandatory Arbitration Rules
(MAR); venue shall be placed in Franklin County, Washington, the laws of the State of
Washington shall apply; and the prevailing party shall be entitled to its reasonable attorney fees
and costs.
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WITNES WHEREOF, the parties hereto have caused this agreement to be executed
this `J" , day of. , 2014.
CITY OF PASCO
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DOWNTOWN PASCO DEVELOPMENT
AUTHORITY
Michael Miller, President